Manchester United’s net debt has increased by £71.6 million in the space of three months to £409.3m, the club’s quarterly financial report has confirmed.

The report, which covers three months up to December 31, 2016, shows that the club’s total overheads rose 27.1 per cent between September 2016 and the end of the calendar year. This comes despite the new Premier League TV deal coming into effect, with the gains being offset by the loss of Champions League revenue.

In delivering the report, executive vice-chairman Ed Woodward said the club is pleased to be competing for the first available trophy of the seasonwhen they travel to Wembly to face Southampton in EFL Cup final this month.

“We are pleased to be competing for the first available trophy of the season when we travel to Wembley to face Southampton in the EFL Cup final this month.

One curiosity in the report is the inclusion of Bastian Schweinsteiger under ‘exceptional items’, with the German midfielder’s return to Jose Mourinho’s plans in recent months being reflected in the accounts as a £4.8m boost to the squad’s value.